EUR/JPY Technical Analysis: Door open for extra losses to 128.40

FX Street

Updated: 9 May. 2019 | 09:37

EUR/JPY is intensifying the weekly leg lower below the critical support at 123.00 the figure.
Immediately to the downside lies early January lows in the 122.60 region ahead of 122.39, June 2017 low.
The cross is expected to keep the negative bias as long as the multi-month resistance line at 126.12 caps the upside. Interim resistance, however, emerges at the 125.03/34 band, where converge the 21-day, 100-day and 55-day SMAs.

EUR/JPY daily chart

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